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Re: handling large market drops

How do you know it won't drop more after a big drop? Phrased another way, how do you know it's the market bottom? Can you really time the market?
by DTSC
Sat Dec 20, 2014 10:32 am
 
Forum: Investing - Theory, News & General
Topic: handling large market drops
Replies: 17
Views: 1659

Re: Home Mortgage payoff

I just paid off my mortgage this week. There is no better feeling than to be debt free and knowing that my family will have a place to live even if I croak today. IMO, it's well worth the few thousand dollars extra you'll make from investing the money instead. Also, you're getting a 3.37% return, wi...
by DTSC
Thu Dec 18, 2014 2:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Mortgage payoff
Replies: 22
Views: 2473

Re: Portfolio Assessment? Lurker turned poster

Replying more to give you a bump than to offer great advice. However, I noticed you want to pay 20% down for a home in 2015. Do you have a separate bucket of money earmarked for that? How much will you need? Housing in Chicagoland certainly isn't cheap, so you are easily looking at $40-50K, probably...
by DTSC
Thu Dec 18, 2014 2:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Assessment Help - Retirement Foundations
Replies: 4
Views: 669

Re: Side jobs or hobbies that make you money

I'm a carpenter myself and my best friend is an electrician. I have good friends in HVAC and plumbing as well. Fixing the house up would be no problem. The scary part for me is all the paperwork involved. I know nothing about it as I have never purchased a home. I can go down to the dmv pay $10 wit...
by DTSC
Wed Dec 17, 2014 11:49 pm
 
Forum: Personal Consumer Issues
Topic: Side jobs or hobbies that make you money
Replies: 127
Views: 18566

Re: Flagship

Congrats! An excellent achievement!
by DTSC
Wed Dec 17, 2014 11:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Flagship
Replies: 22
Views: 2880

Re: Seeking Advice About Self-Employed 401(K) Plan

tfb wrote:Don't debate too long. If you want to contribute for 2014, you must open the plan by 12/31. Remember to make it effective 1/1/2014. This replaces SEP.


tfb,

Thanks for reminding us of the deadline! Also, thanks for the excellent How-to Backdoor Roth article!
by DTSC
Wed Dec 17, 2014 11:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice About Self-Employed 401(K) Plan
Replies: 17
Views: 1093

Re: Seeking Advice About Self-Employed 401(K) Plan

Based on your having many other accounts at Fidelity already, you should probably open your 401K at Fidelity as well. Besides, I know for a fact that you can buy Vanguard ETF's from your Fidelity 401K plan (they call it a Keogh Plan) -- I just bought some VSS this afternoon!
by DTSC
Wed Dec 17, 2014 9:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice About Self-Employed 401(K) Plan
Replies: 17
Views: 1093

Re: What desktop should I buy.

How much do you want to spend? What do you intend to use the computer for?

I'm quite happy with my Dell XPS 8700 with Core i7 processor and 8 GB of RAM. Currently $600-$700 at Costco or Dell's website. Go to hotdealsclub.com or bensbargains.net and watch for deals
by DTSC
Wed Dec 17, 2014 6:13 pm
 
Forum: Personal Consumer Issues
Topic: What desktop should I buy.
Replies: 36
Views: 2581

Re: Seeking Advice About Self-Employed 401(K) Plan

From experience managing my wife's solo 401K plan, Vanguard does not charge any fees - at least they didn't as of 6 months ago. However, we transferred her plan to Fidelity because Fidelity allows IRA rollovers INTO the 401K plan. She had a couple of old IRA's from prior jobs and we wanted roll that...
by DTSC
Wed Dec 17, 2014 6:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice About Self-Employed 401(K) Plan
Replies: 17
Views: 1093

Re: 529 Plan - Need AA Help, Torn between UT, NV, NY plans

I've been very happy with Utah's plan. Great investment choices (including a la carte). Good website. Great customer service. Very competitive low fees. Don't over think this. The key thing is that you're investing now. Thanks! I'll go with Utah then. Appreciate the responses. How do people figure ...
by DTSC
Wed Dec 17, 2014 2:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 Plan - Need AA Help, Torn between UT, NV, NY plans
Replies: 10
Views: 754

Re: Camcorder vs. iPhone vs. DSLR Camera

Getting a DSLR is probably the worst thing I did photography-wise. Too big and clunky - it just sits at home. They $5000 camera which you don't have with you won't give you any pictures at all!
by DTSC
Wed Dec 17, 2014 2:18 pm
 
Forum: Personal Consumer Issues
Topic: Camcorder vs. iPhone vs. DSLR Camera
Replies: 39
Views: 2143

Re: 529 Plan - Need AA Help, Torn between UT, NV, NY plans

I've been very happy with Utah's plan. Great investment choices (including a la carte). Good website. Great customer service. Very competitive low fees. Don't over think this. The key thing is that you're investing now.
by DTSC
Wed Dec 17, 2014 2:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 Plan - Need AA Help, Torn between UT, NV, NY plans
Replies: 10
Views: 754

Re: Umbrella Liability Insurance - Need it or not?

I have $2M coverage for <$250 per year. I certainly sleep better with this coverage.
by DTSC
Fri Dec 12, 2014 9:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Liability Insurance - Need it or not?
Replies: 49
Views: 4512

Re: Toddlers first flight

anonforthis wrote:So many good ideas and advice. Thank you so much everyone. I"m glad I asked. I will bring goody bags for those around us.


Or you can just offer to buy them a drink (preferably alcoholic!)
by DTSC
Thu Dec 11, 2014 10:53 am
 
Forum: Personal Consumer Issues
Topic: Toddlers first flight
Replies: 30
Views: 1848

Re: Toddlers first flight

One word: iPad

If your toddler is like most, they'll just stare at the thing the entire time and maybe not even notice that s/he is on a plane.
by DTSC
Wed Dec 10, 2014 11:26 pm
 
Forum: Personal Consumer Issues
Topic: Toddlers first flight
Replies: 30
Views: 1848

Re: Just Paid Off My Car

Congratulations!

Now you can get one of these -- http://www.vanguardgear.com/shop/lifestyle/bumper-sticker.html
by DTSC
Wed Dec 03, 2014 3:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Just Paid Off My Car
Replies: 24
Views: 2247

Re: Recommendations for online bank?

It isn't a bank. I use Alliant Credit Union. You can join if you are (or claim to be) a PTA (Parent Teacher Association). It has interest checking, currently ~0.6% interest, automatic bill pay. I love having the ability to deposit a check by taking a picture with your cell phone or computer scanner....
by DTSC
Thu Nov 27, 2014 7:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Recommendations for online bank?
Replies: 24
Views: 2874

Re: Honor Societies (any point?)

Depends on how much it costs to join. It never hurts to have a few more letters after your name, if it doesn't cost too much.
by DTSC
Wed Nov 26, 2014 10:14 pm
 
Forum: Personal Consumer Issues
Topic: Honor Societies (any point?)
Replies: 35
Views: 2306

Re: Lamps for S.A.D. problem

I assume you live in the U.S. Here is a list I got from a medical resource for doctors called UpToDate. I have no personal experience with these companies. If you want to PM me your email address, I can send you the full article Hughes Lighting Technologies 34 Yacht Club Drive Lake Hopatcong, NJ 078...
by DTSC
Mon Nov 24, 2014 9:18 pm
 
Forum: Personal Consumer Issues
Topic: Lamps for S.A.D. problem
Replies: 18
Views: 1751

Re: What to prepare for first baby due next month?

Rectal thermometer. Cheap and more accurate than the scan type. . Hold off on the thermometer. Sometimes the hospital will send you out with a kit - such as nail clipper, thermometer, bulb syringe. BTW, it's not unusual for a baby's fingertips to bleed the first time you trim it's nails. Don't feel...
by DTSC
Thu Nov 20, 2014 10:07 am
 
Forum: Personal Finance (Not Investing)
Topic: What to prepare for first baby due next month?
Replies: 55
Views: 4307

Re: What to prepare for first baby due next month?

Get adequate life insurance for you and your partner...
by DTSC
Wed Nov 19, 2014 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: What to prepare for first baby due next month?
Replies: 55
Views: 4307

Re: Grade me

A stay at home spouse can still put $5500 per year into a traditional or Roth IRA
by DTSC
Sat Nov 15, 2014 9:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Grade me
Replies: 12
Views: 1374

Re: Need Help with an Xbox purchase ...

Why don't you ask them? They'll tell you exactly which one to buy.
by DTSC
Sat Nov 15, 2014 9:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need Help with an Xbox purchase ...
Replies: 10
Views: 844

Re: Father of eight hasn’t saved a penny for college

How much can one save after housing, clothing and feeding 8 kids?
by DTSC
Fri Nov 14, 2014 10:00 am
 
Forum: Personal Consumer Issues
Topic: Father of eight hasn’t saved a penny for college
Replies: 47
Views: 2770

Re: Appliance Protection Plan

I never buy the protection plan. I just cross my fingers and hope it doesn't break down before the warranty runs out.

BTW, you might want to shop at abt.com - rated best in Consumer Reports
by DTSC
Fri Nov 14, 2014 12:16 am
 
Forum: Personal Consumer Issues
Topic: Appliance Protection Plan
Replies: 13
Views: 728

Re: Obligation to Parents?

I come from an Asian background and my husband is white. My parents were frugal and managed to save up over a million for retirement on a blue collar salary. So yes, you could say there were responsible. However, due to my sibling basically defrauding them of all their money, and then some serious ...
by DTSC
Thu Nov 13, 2014 2:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Obligation to Parents?
Replies: 77
Views: 4309

Re: Obligation to Parents?

Consider this: Can you (or your wife) stomach it when the in-laws are eating Alpo in a 40 degree house? If you can tolerate it less than the other siblings, you'll be sending them a check. Responsibility falls on those who pick it up. I think so. Her family often jokes with her about her not having...
by DTSC
Thu Nov 13, 2014 12:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Obligation to Parents?
Replies: 77
Views: 4309

Re: Obligation to Parents?

Consider this: Can you (or your wife) stomach it when the in-laws are eating Alpo in a 40 degree house? If you can tolerate it less than the other siblings, you'll be sending them a check.

Responsibility falls on those who pick it up.
by DTSC
Thu Nov 13, 2014 11:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Obligation to Parents?
Replies: 77
Views: 4309

Re: If your networth is over $3 million, how did you do it?

letsgobobby wrote:
    high income
    family paid for college
    successful market timing, I regret to say
    no major life traumas

Really, there is no substitute for the ability to make and save a lot of money.


There is a better substitute - to be born into it or inherit it!
by DTSC
Wed Nov 12, 2014 5:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: If your networth is over $3 million, how did you do it?
Replies: 270
Views: 33460

Re: Approach to student debt advice

Usually, I'd recommend paying down the student loan because you are getting 6.8% return, risk free. However, since she still appears to see the the cash stash as "her" money, you're probably better off just sitting tight. If you are making $150-250K, you'll pay the student loans off soon e...
by DTSC
Tue Nov 11, 2014 3:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Approach to student debt advice
Replies: 32
Views: 4404

Re: Dealer wants my 2011 Prius, what should I do?

Don't waste your time. They are trying to get you to go to the showroom and look at the new cars. Once you see a new one which you fall in love with, they'll offer you an insultingly low price for your trade in.
by DTSC
Tue Nov 11, 2014 12:42 am
 
Forum: Personal Consumer Issues
Topic: Dealer wants my 2011 Prius, what should I do?
Replies: 16
Views: 2124

Re: Buying Furniture

I heard this straight from my patient who is a furniture store salesman. The mark up for furniture is up to 4-5x what they paid for it. This means they're still making enough money after giving you a 70% discount (enough to pay the salesman's commission anyhow)
by DTSC
Mon Nov 10, 2014 3:56 pm
 
Forum: Personal Consumer Issues
Topic: Buying Furniture
Replies: 27
Views: 2117

Re: Job advice - academic physician career move?

Regardless of profession, kids being able to spend time with grandparents is priceless. Being in same town as aging/ill parents is extremely important too, especially if you are an only child.

Non-academic physician here. My view is that you can't eat prestige...
by DTSC
Thu Nov 06, 2014 11:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Job advice - academic physician career move?
Replies: 35
Views: 3364

Re: Career Advice for an Unhappy Young Doctor?

Maybe I didn't read the OP's post carefully, but did he ever mention exactly how much she owes? If she owes $50K, it's easy to get out. $250K, not so much.
by DTSC
Thu Nov 06, 2014 11:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Career Advice for an Unhappy Young Doctor?
Replies: 116
Views: 13621

Re: Career Advice for an Unhappy Young Doctor?

My advice earlier was to start looking for a new job, and take some time off between your new job and the current one. I had a buddy take almost 3 months off like that. I moonlighted during residency and then a month after residency. Took 6 weeks for myself before starting my real job. -E Moonlight...
by DTSC
Tue Nov 04, 2014 10:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Career Advice for an Unhappy Young Doctor?
Replies: 116
Views: 13621

Re: $116k Med School Debt - Pay Off or PSLF?

-I don't think we are able to write off interest on student loans b/c of our income If you have enough home equity, you can take out a home equity loan to pay down the student loan and possibly get some mortgage interest deduction. Of course, this converts part of her loan to your (collective) loan.
by DTSC
Thu Oct 30, 2014 9:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: $116k Med School Debt - Pay Off or PSLF?
Replies: 44
Views: 2708

Re: $116k Med School Debt - Pay Off or PSLF?

$116K isn't much given your high income. I'd just live like a resident for 3 years and pay it off.
by DTSC
Thu Oct 30, 2014 2:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: $116k Med School Debt - Pay Off or PSLF?
Replies: 44
Views: 2708

Re: I Strayed From The Path...Forgive Me.

Don't be so hard on yourself. I attended the Bogleheads conference last week. During our visit to Vanguard, there was a question and answer session with 4 senior Vanguard staff. A question from the audience was whether any of these folks use active management for their personal portfolios. Guess wha...
by DTSC
Wed Oct 29, 2014 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: I Strayed From The Path...Forgive Me.
Replies: 34
Views: 5780

Re: New appliances - Stainless Steel or not?

You mentioned that you wife wanted stainless steel. I guess that settles that.
by DTSC
Tue Oct 28, 2014 8:05 pm
 
Forum: Personal Consumer Issues
Topic: New appliances - Stainless Steel or not?
Replies: 56
Views: 3544

Re: New appliances - Stainless Steel or not?

We got stainless this time around. Big mistake. Lots of fingerprints, esp as we have young kids...
by DTSC
Tue Oct 28, 2014 11:28 am
 
Forum: Personal Consumer Issues
Topic: New appliances - Stainless Steel or not?
Replies: 56
Views: 3544

Re: Your Thoughts on my Portfolio

Responding more to give you a bump. If you have >$10M, why not pay off all the mortgages? Interest rate is so low and I can use the deduction. When the house sells I will be mortgage free. Till then it didn't seem to make sense to incur cap gains to raise the cash to pay off the mortgage. I agree t...
by DTSC
Mon Oct 27, 2014 9:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Your Thoughts on my Portfolio
Replies: 16
Views: 1364

Re: Your Thoughts on my Portfolio

Responding more to give you a bump.

If you have >$10M, why not pay off all the mortgages?
by DTSC
Mon Oct 27, 2014 3:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Your Thoughts on my Portfolio
Replies: 16
Views: 1364

Re: Snow Blower

I just bought a used 2 stage 5 HP snowblower from a small engine repairman/ business for $250 which I found on Craigslist. The same machine new would probably cost $700. It's a much lower financial risk for a machine which I might use 4-5 times per winter.
by DTSC
Tue Oct 07, 2014 10:02 pm
 
Forum: Personal Consumer Issues
Topic: Snow Blower
Replies: 49
Views: 3025

Re: Evaluating small life insurance policies with poor healt

What's the point of a $10k policy except to cover funeral expenses?
by DTSC
Fri Oct 03, 2014 9:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Evaluating small life insurance policies with poor health
Replies: 4
Views: 504

Re: Is my husband a spendthrift? Or I a tightwad?

You might want to check out this Freakonmics podcast regarding teaching kids a foreign language. They basically think it's a waste of time and money. How often do you and your husband use that skill? http://freakonomics.com/2014/03/06/is-learning-a-foreign-language-really-worth-it-a-new-freakonomics...
by DTSC
Fri Oct 03, 2014 10:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 198
Views: 16944

Re: Is my husband a spendthrift? Or I a tightwad?

I do agree with others that you have spending issues.

Hopefully not going too far off topic, but would buying a time share instead of an entire house solve the ski lodge problem?
by DTSC
Thu Oct 02, 2014 3:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 198
Views: 16944

Re: Is my husband a spendthrift? Or I a tightwad?

I'd like to propose new "mechanics" for dividing up responsibility and paying bills. Open 3 checking accounts: his, hers, family expenses. Then you each get a separate credit card linked to your separate account and you each have a credit card for paying family expenses. The groceries sou...
by DTSC
Wed Oct 01, 2014 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 198
Views: 16944

Re: Is my husband a spendthrift? Or I a tightwad?

I'm confused. Is he getting $60 a week + $20 in a savings account as you said in your first post, or $600 as you said in the last post? Or is it that the $600 per week covers groceries and gas, and $60 is the "fun money" portion of the $600? Sorry I was confusing! Phase I of Life with a B...
by DTSC
Tue Sep 30, 2014 11:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 198
Views: 16944
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